Capital Asset Advisory Services LLC Has $2.13 Million Stake in The PNC Financial Services Group, Inc. (NYSE:PNC)

Capital Asset Advisory Services LLC lifted its position in The PNC Financial Services Group, Inc. (NYSE:PNC) by 9.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,541 shares of the financial services provider’s stock after purchasing an additional 1,207 shares during the quarter. Capital Asset Advisory Services LLC’s holdings in The PNC Financial Services Group were worth $2,131,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Steph & Co. raised its stake in shares of The PNC Financial Services Group by 1.8% in the fourth quarter. Steph & Co. now owns 3,720 shares of the financial services provider’s stock valued at $576,000 after purchasing an additional 67 shares in the last quarter. Bangor Savings Bank raised its stake in The PNC Financial Services Group by 1.2% during the fourth quarter. Bangor Savings Bank now owns 5,737 shares of the financial services provider’s stock worth $888,000 after acquiring an additional 69 shares in the last quarter. Triangle Securities Wealth Management raised its stake in The PNC Financial Services Group by 1.8% during the first quarter. Triangle Securities Wealth Management now owns 4,019 shares of the financial services provider’s stock worth $649,000 after acquiring an additional 70 shares in the last quarter. Cooper Financial Group raised its stake in The PNC Financial Services Group by 1.7% during the first quarter. Cooper Financial Group now owns 4,241 shares of the financial services provider’s stock worth $685,000 after acquiring an additional 70 shares in the last quarter. Finally, Wealthcare Advisory Partners LLC raised its stake in The PNC Financial Services Group by 1.5% during the first quarter. Wealthcare Advisory Partners LLC now owns 4,972 shares of the financial services provider’s stock worth $804,000 after acquiring an additional 74 shares in the last quarter. 83.53% of the stock is currently owned by institutional investors and hedge funds.

The PNC Financial Services Group Stock Up 2.3 %

The PNC Financial Services Group stock traded up $3.55 during midday trading on Friday, reaching $155.48. The stock had a trading volume of 2,662,268 shares, compared to its average volume of 1,899,952. The firm’s fifty day simple moving average is $155.04 and its 200-day simple moving average is $152.73. The PNC Financial Services Group, Inc. has a 1-year low of $109.40 and a 1-year high of $162.24. The stock has a market capitalization of $61.87 billion, a P/E ratio of 12.76, a price-to-earnings-growth ratio of 2.17 and a beta of 1.16. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.85 and a current ratio of 0.85.

The PNC Financial Services Group (NYSE:PNC) last posted its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $3.10 earnings per share for the quarter, topping the consensus estimate of $3.09 by $0.01. The firm had revenue of $5.15 billion for the quarter, compared to analyst estimates of $5.19 billion. The PNC Financial Services Group had a return on equity of 11.64% and a net margin of 16.05%. The business’s quarterly revenue was down 8.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.98 EPS. As a group, analysts expect that The PNC Financial Services Group, Inc. will post 12.63 EPS for the current fiscal year.

The PNC Financial Services Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, May 5th. Shareholders of record on Monday, April 15th were given a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a dividend yield of 3.99%. The ex-dividend date of this dividend was Friday, April 12th. The PNC Financial Services Group’s dividend payout ratio (DPR) is 52.06%.

Insiders Place Their Bets

In other The PNC Financial Services Group news, CEO William S. Demchak sold 641 shares of the business’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $153.19, for a total transaction of $98,194.79. Following the transaction, the chief executive officer now owns 568,323 shares of the company’s stock, valued at approximately $87,061,400.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Richard Kevin Bynum sold 850 shares of The PNC Financial Services Group stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $155.87, for a total transaction of $132,489.50. Following the completion of the transaction, the executive vice president now directly owns 3,502 shares in the company, valued at approximately $545,856.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William S. Demchak sold 641 shares of The PNC Financial Services Group stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $153.19, for a total value of $98,194.79. Following the transaction, the chief executive officer now owns 568,323 shares of the company’s stock, valued at $87,061,400.37. The disclosure for this sale can be found here. Insiders own 0.42% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on PNC shares. HSBC upgraded The PNC Financial Services Group from a “reduce” rating to a “hold” rating and increased their price objective for the stock from $141.00 to $155.00 in a research note on Thursday, March 28th. Wells Fargo & Company increased their price objective on The PNC Financial Services Group from $185.00 to $194.00 and gave the stock an “overweight” rating in a research note on Thursday, March 28th. The Goldman Sachs Group raised their target price on The PNC Financial Services Group from $151.00 to $168.00 and gave the company a “neutral” rating in a research note on Monday, April 1st. StockNews.com upgraded The PNC Financial Services Group from a “sell” rating to a “hold” rating in a research note on Wednesday, May 29th. Finally, Bank of America raised their target price on The PNC Financial Services Group from $165.00 to $168.00 and gave the company a “neutral” rating in a research note on Wednesday, April 17th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $158.43.

The PNC Financial Services Group Profile

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. It operates through three segments: Retail Banking, Corporate & Institutional Banking, and Asset Management Group segments. The company's Retail Banking segment offers checking, savings, and money market accounts, as well as time deposit; residential mortgages, home equity loans and lines of credit, auto loans, credit cards, education loans, and personal and small business loans and lines of credit; and brokerage, insurance, and investment and cash management services.